Wealthspire Advisors LLC Increases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Wealthspire Advisors LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 249.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,338 shares of the investment management company’s stock after acquiring an additional 3,097 shares during the period. Wealthspire Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Personal Financial Services bought a new stake in The Goldman Sachs Group during the 1st quarter valued at about $25,000. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $27,000. Versant Capital Management Inc increased its holdings in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GS has been the topic of several research reports. Morgan Stanley raised their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Barclays increased their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $478.99 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $154.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.73 and a beta of 1.36. The stock’s 50-day simple moving average is $490.33 and its 200-day simple moving average is $451.20.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.